U.S. government assistance for auto industry gets support

09/18/2008 | NYTimes.com

Congress is looking increasingly inclined to dole out loan guarantees worth $25 billion for the U.S. auto industry. CEOs of the Detroit Three automakers -- General Motors, Ford Motor and Chrysler -- met Wednesday with House Speaker Nancy Pelosi. She and Senate Majority Leader Harry Reid see the loans as more than a buoy for the auto industry but as an instrument to keep technological innovation moving and to keep jobs in the U.S. Republican congressional leaders also were supportive.

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